Stock Market Live Updates: Sensex Nears 76,600, Nifty Holds 23,200; Consumer Durables, IT Stocks Top Bulls

The Nifty 50 and Sensex indices showed signs of recovery on January 23, buoyed by a surge in information technology (IT) stocks. This uplift was notably propelled by a 2% increase in the IT index, pushing the Nifty 50 index beyond the 23,200 mark. The initial boost in the stock market was further supported by gains in midcap IT companies like Persistent Systems and Coforge, which positively impacted investor confidence.

Nonetheless, the enthusiasm was somewhat restrained due to a decline in Fast-Moving Consumer Goods (FMCG) and Public Sector Undertaking (PSU) banking sectors. Adding to the mixed sentiments, HDFC Bank, a leading private banking institution, experienced an uptick following impressive earnings for the third quarter.

On Wednesday, the Sensex witnessed a significant rally, climbing by an impressive 566 points, or 0.75%, to close at 76,404. The Nifty 50 index also mirrored this positive trend, advancing by 130 points, or 0.57%, to end the day at 23,155. These gains were primarily driven by strength in large-cap stocks across key sectors. However, The midcap and small-cap segments lagged significantly, reflecting heightened profit-booking and investor caution. Both midcap and small-cap indices ended the day with losses exceeding 1%.

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Jan 23, 2025, 3:01 pm IST

PSU Stock Falls For 6-Sessions In Row

PSU giant, NTPC Green Energy has witnessed selling pressure for a sixth consecutive session on January 23. The stock price has nosedived by more than 8% during this period and is now a little over Rs 3 away from its 52-week low. NTPC Green Energy is going to be in focus due to its upcoming Q3FY25 results on January 25.

Jan 23, 2025, 3:00 pm IST

Zensar Tech Hits New High

Zensar Technologies, a midcap tech player, has emerged among the best performing IT stocks of January 2025. Right from its weekly, monthly, half-year and YoY basis, Zensar stock has given double-digit returns. Continuing on its trend, Zensar stock has skyrocketed by nearly 16% and touched its new 52-week high of Rs 869.70 apiece on NSE during Thursday, January 23rd trading session. The latest uptrend was fuelled by decent results in Q3FY25, and expectations of better growth in the upcoming quarter. Brokerage has given BUY or Hold recommendation. Going ahead, Zensar will also reward investors with a 100% dividend.

Jan 23, 2025, 2:22 pm IST

Tips Music Result Update: Growth Moderates, But Outlook Remains Intact; Maintain BUY

“TIPS Music managed to sustain growth momentum in Q3FY25, however, missed our estimates as revenue grew by 20% YoY, but moderated QoQ. EBITDA margin remained healthy with +460bps expansion YoY, led by lower content cost. This resulted in healthy PAT growth of 28% YoY. Management is confident of achieving 30% topline and bottom-line growth over next few years driven by improved monetization of content and industry tailwinds. We believe medium term growth prospects for the company remain intact as incremental revenue drivers (short format videos, live performances etc.) come into play in coming quarters. We trim our estimates on account of Q3 miss but remain bullish on the outperformance of Indian music industry in the medium term with TIPS Music being the key beneficiary. We value the stock at FY27E PE of 47x and maintain BUY with revised TP of Rs920. Stock is currently trading at attractive valuation with FY26/FY27E P/E of 37x/29x,” YES Securities Report.

Jan 23, 2025, 1:31 pm IST

Sector Update: Telecom | TRAI Nov’24 Subs Data: Tariff-Hike-Led SIM Consolidation Abates For Private Telcos

“TRAI’s Nov’24 subscriber (subs) data shows further moderation in SIM consolidation in the lower-ARPU segment on account of the Jul’24 tariff hike by all three private telcos (while BSNL didn’t announce any tariff hike). Cumulative subs decline for the overall industry moderated to 1.8mn in Nov’24 (vs. 3.3mn subs loss in Oct’24); of this, Bharti lost 1.1mn (vs. subs gain of 1.9mn in Oct’24) and VIL/BSNL lost 0.3mn/1.5mn subs respectively while Jio added 1.2mn subs after witnessing 4 straight months of subs loss. However, the industry’s active subs declined sharply by 6.1mn in Nov’24 as Bharti/Jio/VIL/BSNL lost 3mn/1.9mn/1.1mn/0.1mn active subs respectively. Separately, TRAI has started reporting the 5G FWA subs under MBB subs base in Nov’24 (vs. earlier reporting it under FTTH subs base). Hence, Jio and Bharti witnessed MBB subs gains (5.1mn/2mn) while they registered decline in their FTTH subs base (3.3mn/0.4mn). Our calculations suggest that there were 4.4mn 5G FWA subs as of Nov’24-end (3.9mn for Jio and balance 0.5mn for Bharti) – implying MBB subs gain (exclusive of 5G FWA) of ~1.5mn for Bharti and robust FTTH additions of ~0.59mn for Jio and moderate FTTH additions ~0.14mn for Bharti. Further, BSNL also gained 0.6mn MBB subs while VIL’s MBB subs loss continued (0.7mn). Jio's overall subs declining trend finally reversed as it added 1.2mn subs in Nov’24 though it lost 1.1mn active subs, leading to slightly lower VLR ratio of 97% in Nov’24 (vs.97.5% in Oct’24). Bharti witnessed decline in its overall and active subs base while VIL registered losses across overall, MBB and active subs base in Nov’24. We believe the SIM consolidation trend seen post the Jul'24 tariff hike is broadly behind and was limited largely to lower-end subs (also visible in Jio’s 3QFY25 results); hence, it is not a reason for concern for Jio/Bharti,” said Dayanand Mittal of JM Financial Institutional Securities Ltd.

Jan 23, 2025, 1:03 pm IST

Result Update: Persistent Systems | No Chinks

“PSYS reported a well-rounded performance in 3Q. Revenues grew 4.6% cc QoQ which, adjusted for in-organic contribution (35bps), met expectations (JMFe: 4.3%). Importantly, the fact that this came on the back of two strong quarters meant YoY growth improved to 20%, a seven quarter high. If PSYS’ FY27 revenue aspiration of USD 2bn (which they are confident of achieving) is anything to go by, this momentum could sustain (implied CAGR over FY25-27E: 19%). One might point at slower ACV growth (LTM ACV up 11% YoY) to argue otherwise. Though a valid concern, PSYS’ USD 3.8bn of TCV over past two years (book-to-bill: 1.54x) means its order backlog has improved considerably, lending visibility. Margin view, on the other hand, is firmer now. PSYS reported 90bps sequential margin improvement, despite unwinding of one-off benefits, a key investor concern. This sets PSYS up well for a strong FY25 exit margin and hence healthy expansion in FY26, supporting earnings growth. PSYS is diffusing its product engineering/Data capabilities into its platform-led AI approach to proactively cannibalise itself/competition and take wallet share. This should undergird its medium-term growth prospects. That is likely flowing into management’s ambitious USD 5bn revenue target by FY31 (c.25% revenue CAGR). PSYS has the wares to sell to achieve that. It has the execution. It has clients’ confidence. It should have investors’ support too. BUY with a revised TP of INR 7,630 (from INR 7,530),” said Abhishek Kumar of JM Financial Institutional Securities Ltd.

Jan 23, 2025, 12:28 pm IST

Result Update: Hindustan Unilever (HUVR IN) | 3QFY25: UVG Continues To Disappoint, Pace of Recovery Will Be Key

“HUL’s earnings print was below our muted expectation. Key negative was flat UVG (on low base) impacted by weaker mix – a function of higher growth in smaller packs (downtrading & slowdown in urban) and Home Care business (which has lower realisation/tonne). Near term outlook remains challenging – Urban slowdown & weaker mix likely to continue. Although mgmt. believes latter is more transient in nature and doesn’t expect trends to worsen from current levels. Pace of recovery will be contingent on how macro factors (food inflation, real wage growth, etc.) shape up. Hopes are pinned on likely better kharif output & a recent moderation in key inputs (palm oil/tea). EBITDA margin delivery was inline, although near term expectation has been moderated (lower end of 23-24% vs earlier guidance of 23-24%). Acquisition of Minimalist is inline with their intent to accelerate premiumisation in B&W portfolio. Key challenge in our view is to revive growth in Soaps, mass Skin Care and F&R, where USG has been declining. Interventions have been made (in terms of new formulation/price architecture change, etc.) & pace of recovery here will be key for sales growth to revert to high single digit trajectory (vs low-single-digit growth seen in FY24/9MFY25). Stock is likely to remain under pressure owing to lack of visibility on double-digit earnings growth. Valuations below LT avg. provides some cushion to downside. We cut est. by c.3-4% & multiple to 50x (vs 53x earlier), retain BUY with revised TP of INR 2600 (earlier INR 2807),” said Mehul Desai of JM Financial Institutional Securities Limited.

Jan 23, 2025, 12:11 pm IST

Nifty Outlook Today By Anand James, Chief Market Strategist, Geojit Financial Services

A strong close yesterday, after recovering from yet another penetration of 23000 mark encourages us to continue looking for 23220 or 23430, that we had lined up for yesterday. Expect early consolidation though, being in the 23140 vicinity, a pivot in its own merit, but a direct rise above 23220 could set us on path towards 23360-23440. Alternatively, if the early slippages are not held above 23055, expect weakness to dominate.

Jan 23, 2025, 11:57 am IST

HSBC Bullish on Varun Beverages Share

HSBC has maintained its 'buy' recommendation for Varun Beverages, although the target price has been reduced from Rs 770 to Rs 680. The fourth quarter is typically less significant in India due to seasonal factors. However, the company's expansion into Africa presents a promising opportunity. The competitive environment within the industry is becoming more challenging. Despite this, Varun Beverages' extensive national presence and customer base position it as a formidable competitor.

Jan 23, 2025, 11:44 am IST

IREDA share price falls

In the morning session on January 23, IREDA's stock price fell by nearly 3% on the BSE. The shares began trading at ₹199, slightly below the previous close of ₹200.30, and then declined to ₹194.95. However, by 11 AM, the stock had recovered some losses, trading at ₹197.10, which was still a 1.60% decrease. The Indian Renewable Energy Development Agency Limited (IREDA) is experiencing market pressure due to an impending board meeting scheduled for January 23, 2025. The company disclosed in a post-market announcement on January 17 that its board would convene to discuss and potentially approve fundraising via a qualified institution placement (QIP).

Jan 23, 2025, 11:22 am IST

BPCL share price declines

Despite announcing robust quarterly results and declaring dividends, the share price of Bharat Petroleum Corporation Limited (BPCL) witnessed a decrease of over 1% in early trading. The stock, which had closed at ₹277.70, opened slightly up at ₹284.70 on the Bombay Stock Exchange (BSE) on a Thursday. However, it soon experienced a downturn, dropping to ₹272.55 during the morning session. This decline came after the company shared its financial performance for the third quarter post the market closure on Wednesday, indicating that the positive results did not immediately bolster investor confidence in the stock.

Jan 23, 2025, 11:01 am IST

Pidilite Industries shares jumps over 8%

On January 23, Pidilite Industries witnessed a significant rise in its share price, climbing over 8%. This surge followed the announcement of robust financial results for the December 2024 quarter. The company's shares reached an intraday peak of ₹2,993 on the NSE during morning trading. By 9:35 am, the stock was trading at ₹2,979, marking a 7.9% increase. Pidilite Industries reported a profit after tax of ₹557 crore for the December quarter, reflecting a 9% increase from ₹512 crore in the same period last year. Consolidated net sales rose by 9% to ₹3,357 crore, excluding contributions from Pidilite USA and Pulvitec Brazil.

Jan 23, 2025, 10:50 am IST

IT Stocks in focus

The Nifty IT index experienced a significant rise, climbing more than 2%. Coforge and Persistent Systems were the top performers among its 10 components. Coforge's shares increased by 10%, and Persistent Systems also saw a 10% jump following strong financial results for the December quarter. Excluding HCLTech, which saw a slight decline of 0.5%, the other nine companies in the IT index recorded gains ranging from 0.5% to 11%. This indicates a positive trend for the sector as a whole.

Jan 23, 2025, 10:36 am IST

Krystal Integrated Services Share in Focus

Krystal Integrated Services has secured a contract with the Airports Authority of India (AAI) to deliver both comprehensive and mechanised housekeeping services at Aurangabad Airport. This agreement highlights Krystal's growing presence in the aviation sector. In addition to this, Mumbai International Airport Limited (MIAL) has entrusted Krystal with providing landside security services at Chhatrapati Shivaji Maharaj International Airport. This new responsibility further solidifies Krystal's role in ensuring airport security.

Jan 23, 2025, 10:20 am IST

Stallion India Fluorochemicals Debuts with 33% Premium on NSE

Stallion India Fluorochemicals shares made a strong debut on January 23, listing with a premium exceeding 33%. Analysts had predicted this positive outcome due to the company's strong position in the fluorochemicals sector and the overwhelming subscription in the primary market. The refrigerants supplier's shares were listed at Rs 120 each on the NSE, reflecting a 33.33% premium over the issue price. Following this listing, Stallion India Fluorochemicals Ltd achieved a market valuation of Rs 951.90 crore on the NSE. The public offering commenced on January 16, aiming to raise Rs 199.45 crore from capital markets. The price band was set between Rs 85 and Rs 90 per share. The issue witnessed an impressive subscription rate of 188.38 times in the primary market.

Jan 23, 2025, 10:07 am IST

Japanese Yen Weakens Ahead of BOJ Decisions

The yen has continued to weaken, trading at approximately 156.5 against the dollar as the Bank of Japan (BOJ) initiated its policy meeting slated for two days. This meeting is crucial as the BOJ is anticipated to hike its policy rate to 0.5% come Friday, marking a 16-year peak in short-term borrowing costs. Governor Ueda from the BOJ hinted that a strong economy could lead to an interest rate increase. Meanwhile, Deputy Governor Himino remarked it would be atypical for Japan to maintain negative real interest rates after moving past deflation. In the financial landscape, Japan showed impressive export figures in December, surpassing forecasts, while its import numbers also saw a rise. This economic performance comes at a time when the yen's strength seems challenged by global dynamics, particularly the U.S. dollar. The aggressive America-first and pro-growth strategies by US President Donald Trump are poised to push inflation rates up in the United States, potentially exerting further downward pressure on the yen.

Jan 23, 2025, 10:04 am IST

US Crude Oil Inventories Increase

In a surprising shift, the American Petroleum Institute reported a 1 million barrel uptick in US crude oil stocks for the week concluding on January 17th, 2024. This development comes after a period where inventories saw a consistent drop over five weeks, marking a notable change in trends with a previous reduction of 2.6 million barrels just the week before. Following five weeks of declining figures, the latest data from the American Petroleum Institute marks a significant turn in the US crude oil inventory levels. The increase of 1 million barrels starkly contrasts the pattern observed in the preceding weeks, including a substantial draw of 2.6 million barrels witnessed just the week prior to January 17th, 2024.

Jan 23, 2025, 9:57 am IST

Stock Market Live Updates: Sensex and Nifty Today

The benchmark indices opened lower this morning, but by around 10 AM, the market showed a strong rebound. The Sensex gained 164.15 points (0.21%) to reach 76,569.14, while the Nifty 50 sharply rose by 44.20 points (0.19%), reaching 23,199.55.

Jan 23, 2025, 9:36 am IST

Stock Market Live Updates: Indian Rupee opens Lower

Rupee opened at 86.49 against dollar with 11 paise lower on Thursday

Jan 23, 2025, 9:32 am IST

Stock Market Live Updates: Coforge Q3 Results

Coforge delivers exceptional performance in Q3 FY25. The company’s Revenue up 40.3% YoY, 8.4% QoQ in CC terms. EBITDA up 29.3% YoY, 7.2% QoQ. Operating Cash Flow at .0 Mn, up 211% QoQ. Order Executable at .37 bn, up 40.1% YoY

Jan 23, 2025, 9:12 am IST

Stock Market Live Update: U.S. Markets in Positive Territory

Wall Street saw some enthusiasm among investors as the major indices closed on a positive note on January 22, 2025.. The Dow Jones Industrial Average (DJIA) rose by 130.92 points (0.3%) to close at 44,156.73, while the Nasdaq Composite surged 252.56 points (1.28%) to finish at 20,009.34. The S&P 500 added 37.13 points (0.61%) to settle at 6,086.37. Technology stocks led the rally. Market sentiment also improved after President Trump announced a USD 500 billion investment in artificial intelligence infrastructure, benefiting companies like Oracle, whose stock rose 5.1%.

Jan 23, 2025, 9:06 am IST

Stock Market Live Updates: Asian Markets Trade in the Green

Markets across the Asia-Pacific region traded mostly in the green, with key indices showing positive momentum. The Shanghai Composite gained 26.81 points (+0.83%) to close at 3,240.43, while Japan’s Nikkei 225 advanced 183.86 points (0.46%) to 39,830.11. The Hang Seng Index (HSI) in Hong Kong edged up by 13.2 points (0.07%) to 19,791.97, and the Shenzhen Component added 29.78 points (0.29%) to 10,255.65. However, South Korea’s Kospi declined by 20.77 points (0.82%) to 2,526.29, and Australia’s ASX 200 slipped 51.4 points (0.61%) to 8,378.4,

Jan 23, 2025, 9:02 am IST

Stock Market Live Updates: Market Performance in the Previous Session

Sensex and Nifty, ended higher on Wednesday following a volatile trading session. The Sensex posted a strong rally, surging 566 points (0.75%) to close at 76,404. Similarly, the Nifty 50 index advanced 130 points (0.57%) to settle at 23,155. The upward momentum was largely fueled by strength in large-cap stocks across key sectors, reflecting positive investor sentiment.

Jan 23, 2025, 9:02 am IST

Welcome to the Stock Market Live Blog

Good morning! Welcome to our Stock Market Live Blog, your one-stop destination for all the latest updates from Dalal Street. With Sensex and Nifty leading the action, we’ll keep you posted on every market move, key trends, and expert insights throughout the day. Stay tuned for real-time updates, stock recommendations, buzzing stocks, and more as we navigate the day’s market swings together!